Oppenheimer Increases Avient (NYSE:AVNT) Price Target to $49.00

Avient (NYSE:AVNT) had its target price lifted by analysts at Oppenheimer from $45.00 to $49.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price objective would indicate a potential upside of 16.29% from the company’s previous close.

Separately, Wells Fargo & Company upped their price target on Avient from $45.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th.

Avient Stock Performance

Shares of Avient stock opened at $42.14 on Thursday. Avient has a 52 week low of $27.73 and a 52 week high of $43.97. The business’s fifty day simple moving average is $40.80 and its 200-day simple moving average is $37.51. The firm has a market cap of $3.84 billion, a PE ratio of 50.77, a price-to-earnings-growth ratio of 0.92 and a beta of 1.53. The company has a quick ratio of 1.37, a current ratio of 1.82 and a debt-to-equity ratio of 0.89.

Avient (NYSE:AVNT) last announced its quarterly earnings results on Wednesday, February 14th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.48 by $0.04. Avient had a return on equity of 9.26% and a net margin of 2.41%. The business had revenue of $719.00 million for the quarter, compared to analyst estimates of $711.87 million. During the same quarter in the prior year, the company posted $0.39 EPS. The company’s quarterly revenue was down 9.0% on a year-over-year basis. Equities analysts forecast that Avient will post 2.53 earnings per share for the current year.

Institutional Investors Weigh In On Avient

Several institutional investors and hedge funds have recently modified their holdings of AVNT. Ronald Blue Trust Inc. raised its holdings in shares of Avient by 139.5% in the 3rd quarter. Ronald Blue Trust Inc. now owns 1,152 shares of the company’s stock valued at $41,000 after buying an additional 671 shares during the period. Fifth Third Bancorp raised its holdings in shares of Avient by 42.8% in the 4th quarter. Fifth Third Bancorp now owns 1,001 shares of the company’s stock valued at $42,000 after buying an additional 300 shares during the period. Belpointe Asset Management LLC raised its holdings in shares of Avient by 248.2% in the 1st quarter. Belpointe Asset Management LLC now owns 1,062 shares of the company’s stock valued at $44,000 after buying an additional 757 shares during the period. KBC Group NV purchased a new stake in shares of Avient in the 4th quarter valued at $49,000. Finally, Covestor Ltd raised its holdings in shares of Avient by 123.1% in the 1st quarter. Covestor Ltd now owns 1,187 shares of the company’s stock valued at $57,000 after buying an additional 655 shares during the period. Hedge funds and other institutional investors own 95.48% of the company’s stock.

Avient Company Profile

Avient Corporation operates as a formulator of material solutions in the United States, Canada, Mexico, Europe, South America, and Asia. It operates in two segments, Color, Additives and Inks; and Specialty Engineered Materials. The Color, Additives and Inks segment offers custom color and additive concentrates in solid and liquid form for thermoplastics, dispersions for thermosets, and specialty inks; custom-formulated liquid system, such as polyester, vinyl, natural rubber and latex, polyurethane, and silicone; and proprietary inks.